inheritance

Discussing Inheritances With Children

Posted on: February 18th, 2016
Starting discussions during one’s lifetime about how personal items, collectibles, and assets will pass on can help to prevent conflicts after death. Surviving children might feel less inclined to contest a will if they understand that a parent’s wishes match the instructions in the will....

3 Tax Planning Steps for the New Year

Posted on: November 27th, 2015
Common tax planning strategies include retirement contributions, family gifting, and making charitable donations. Outlined below are a few alternative planning steps to consider in the New Year....

Tax Considerations in Structuring Inheritances

Posted on: November 18th, 2015
When dividing assets in an estate plan, the testator might be inclined to evenly split assets for heirs. However, if not planned for properly, federal and state tax requirements nevertheless could result in an uneven split of assets upon distribution...

August is National Make-a-Will Month

Posted on: August 13th, 2015
An increasing number of Americans fail to plan appropriately for the future needs of themselves and their families, both through inadequate retirement savings as well as neglected estate planning. August is Make-a-Will Month...

Protecting IRA Assets for Beneficiaries: IRA Beneficiary Trusts

Posted on: October 23rd, 2014
Earlier this year the Supreme Court ruled in Clark v. Rameker that inherited retirement accounts are subject to bankruptcy claims. As a result of this ruling, IRA owners are taking steps to ensure assets accumulated over a lifetime are protected for loved ones. ...

Debt Inheritance: Credit Cards, Tax, and Other Liabilities

Posted on: July 14th, 2014
An individual may accumulate assets during his or her lifetime, but debt may reduce or eliminate an inheritance family members expected to receive. Loved ones may “inherit” debt if a decedent lacked effective estate planning, beneficiary designation updates, and asset protection....
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